Burt says ex-chief Vellacott best man to lead IndigoVision

SIR Peter Burt, the former Bank of Scotland chief executive, has revealed his motives for getting involved in the increasingly acrimonious battle for control of Edinburgh technology company IndigoVision.

Burt was last week enlisted by ousted chief executive Oliver Vellacott in his bid to return to the company he founded.

With Hamish Grossart – nephew of Sir Angus Grossart – in the other camp as chairman of IndigoVision, the dispute sees two of Scotland’s best known business names pitched against each other over the future of the £20 million company.

Burt said he had agreed to get involved as he thought Vellacott was the best man to lead the kind of dynamic technology company he believed was “incredibly important” for the future of Scotland.

“Vellacott has done a very good job in building up IndigoVision over the years. Obviously both sides have strong views in this, but I feel that he is a very able man and has the breadth of vision, the experience and the skills needed to lead the company,” said Burt, who said he knew Vellacott socially rather than through previous business dealings.

“From a philosophical point of view I also feel these kinds of companies are better led by their founder.”

Vellacott has requisitioned a general meeting of the company’s shareholders to vote on resolutions to reinstate him, appoint Burt as chairman and install another ally, Waverley Cameron, as a non-executive, while removing Grossart and non-executive Andrew Fulton.

The move has been branded a “waste of time and money” by Grossart, who said Vellacott made three indicative offers to take the company private which were rejected for being too low and not credible.